1314 Sinopec
Key facts
- 1314 Sinopec
- Sinopec announces recognition of an investment loss of NT$1.804 billion in China Engineering Corporation under IAS 28, paragraph 22.
- Source: PR Times
- Date: June 27, 2026
Direct answer
Sinopec announces recognition of an investment loss of NT$1.804 billion in China Engineering Corporation under IAS 28, paragraph 22.
- Citation
- 1314 Sinopec (June 27, 2026), PR Times
- Source
- PR Times
- Date
- June 27, 2026
Sinopec announces recognition of an investment loss of NT$1.804 billion in China Engineering Corporation under IAS 28, paragraph 22.
📋 Article Processing Timeline
- 📰 Published: June 27, 2026 at 09:00
- 🔍 Collected: June 27, 2026 at 23:08 (14h 8m after Published)
- 🤖 AI Analyzed: June 27, 2026 at 23:11 (2 min after Collected)
Release Date: June 27, 115
Statement Date: June 26, 115
Statement Time: 18:31:32
Company Code: 1314
Company Name: Sinopec
Subject: Announcement of investment loss of NT$1.804 billion in China Engineering Corporation, recognized under paragraph 22 of International Accounting Standard No. 28.
Applicable Clause: Clause 51
Event Date: June 26, 115
Details:
1. Event Date: 06/26/115
2. Company Name: China Petroleum & Chemical Industrial Development Corporation
3. Relationship with Company (enter '本公司' or 'Subsidiary'):本公司
4. Cross-shareholding Ratio: Not applicable
5. Reason for Occurrence: The Company's investment in China Engineering Corporation has been assessed as having lost significant influence under International Accounting Standard No. 28.
6. Response Measures:
1. In accordance with the provisions of International Accounting Standard No. 28, the Company's investment in China Engineering Corporation will be reclassified from 'Investments accounted for using the equity method' to 'Financial assets at fair value through other comprehensive income - non-current'. The investment shall be classified under IFRS 9 paragraph 4 and measured under paragraph 5 as financial assets at fair value through other comprehensive income, and an investment loss of NT$1.804 billion shall be recognized in accordance with paragraph 22 of International Accounting Standard No. 28. The amount stated herein is self-calculated by the Company and has not yet been audited by independent auditors; the actual figures will be subject to the financial reports officially announced by the Company.
2. The adjustment made under International Accounting Standard No. 28 does not involve actual cash outflow and therefore has no impact on the Company's operating funds or cash flows.
7. Other Matters to be Disclosed (If the entity involved in the event or resolution is a publicly issued company or above, this major information also qualifies as a matter under Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act that has a significant impact on shareholders' equity or securities prices): None
Statement Date: June 26, 115
Statement Time: 18:31:32
Company Code: 1314
Company Name: Sinopec
Subject: Announcement of investment loss of NT$1.804 billion in China Engineering Corporation, recognized under paragraph 22 of International Accounting Standard No. 28.
Applicable Clause: Clause 51
Event Date: June 26, 115
Details:
1. Event Date: 06/26/115
2. Company Name: China Petroleum & Chemical Industrial Development Corporation
3. Relationship with Company (enter '本公司' or 'Subsidiary'):本公司
4. Cross-shareholding Ratio: Not applicable
5. Reason for Occurrence: The Company's investment in China Engineering Corporation has been assessed as having lost significant influence under International Accounting Standard No. 28.
6. Response Measures:
1. In accordance with the provisions of International Accounting Standard No. 28, the Company's investment in China Engineering Corporation will be reclassified from 'Investments accounted for using the equity method' to 'Financial assets at fair value through other comprehensive income - non-current'. The investment shall be classified under IFRS 9 paragraph 4 and measured under paragraph 5 as financial assets at fair value through other comprehensive income, and an investment loss of NT$1.804 billion shall be recognized in accordance with paragraph 22 of International Accounting Standard No. 28. The amount stated herein is self-calculated by the Company and has not yet been audited by independent auditors; the actual figures will be subject to the financial reports officially announced by the Company.
2. The adjustment made under International Accounting Standard No. 28 does not involve actual cash outflow and therefore has no impact on the Company's operating funds or cash flows.
7. Other Matters to be Disclosed (If the entity involved in the event or resolution is a publicly issued company or above, this major information also qualifies as a matter under Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act that has a significant impact on shareholders' equity or securities prices): None
FAQ
What kind of company is Sinopec?
A Taiwanese petrochemical development company focused on energy and chemical investments and industrial projects.
Why did this loss occur?
Due to loss of significant influence over China Engineering Corporation, requiring reclassification under IAS 28.
Will this loss affect future performance?
It is a non-cash accounting loss and does not impact operational cash flow or business performance.